Royal Bank of Canada Cuts Chemed (NYSE:CHE) Price Target to $697.00

Chemed (NYSE:CHE) had its price target lowered by Royal Bank of Canada from $712.00 to $697.00 in a research report report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on CHE. StockNews.com raised shares of Chemed from a hold rating to a buy rating in a research report on Saturday, May 4th. Oppenheimer raised their target price on shares of Chemed from $625.00 to $650.00 and gave the company an outperform rating in a report on Thursday, February 29th.

Chemed Price Performance

Shares of CHE stock opened at $556.39 on Tuesday. The firm has a market cap of $8.42 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 2.28 and a beta of 0.46. The company has a 50-day moving average of $600.87 and a two-hundred day moving average of $595.03. Chemed has a 1-year low of $492.84 and a 1-year high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.09 by ($0.41). The business had revenue of $589.23 million for the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. Sell-side analysts anticipate that Chemed will post 21.72 EPS for the current fiscal year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.29%. Chemed’s payout ratio is currently 8.61%.

Insiders Place Their Bets

In other Chemed news, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the sale, the vice president now owns 1,422 shares of the company’s stock, valued at $917,190. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the transaction, the vice president now owns 1,422 shares in the company, valued at $917,190. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,808 shares of company stock valued at $12,454,691. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chemed

Hedge funds have recently modified their holdings of the business. Chicago Capital LLC purchased a new position in Chemed in the 4th quarter valued at $1,170,000. Raymond James & Associates boosted its position in shares of Chemed by 5.7% during the 4th quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock worth $39,715,000 after purchasing an additional 3,654 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Chemed by 229.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,984 shares of the company’s stock worth $3,110,000 after purchasing an additional 4,166 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of Chemed during the 4th quarter worth $2,325,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Chemed by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 97,335 shares of the company’s stock worth $50,585,000 after purchasing an additional 1,283 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.